Arsene Wenger believes Arsenal can win the Premier League under Mikel Arteta and admits he is surprised at the level of investment in the squad in recent seasons.
Arsenal have started the league campaign with nine points from a possible 12 and are currently fourth in the table - three points behind surprise leaders Everton.
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The Gunners next face Manchester City on Saturday, live on Sky Sports, and Wenger believes Arteta has enough quality in his squad to end the club's 16-year wait for the title.
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"I genuinely believe yes, because he looks to have a good grip on the team," said Wenger - speaking to Geoff Shreeves at a special event for Sky VIP customers on Monday.
"They follow well, they are with him. We have bought well, spent a lot of money in the last two years. Suddenly we discovered huge resources - that was quite surprising.
"I think he has the quantity and quality of players, yes we can go for it. Why not?"
Wenger is yet to return to the Emirates since stepping down as manager at the end of the 2017-18 season and the Frenchman admits he is unsure when he will revisit his former club.
"It's not painful. I felt that it was better to take a complete distance with the club and let people get on with it," he said.
When asked how long it would be before he returned to the north London club, Wenger added: "I don't know but I don't rule it out.
"It's still my club, it's still my love. I still suffer when we don't do well and I'm happy when we do well.
"When I speak about Arsenal it's still 'we, we, we, we'."
Wenger on Project Big Picture: 'You cannot ignore tradition'
Wenger believes there could be a reluctance in English football to support Project Big Picture, the controversial proposals to reshape the professional game.
However, he believes action must be taken to protect the futures of smaller clubs.
"If nothing happens, the smaller clubs will die. I don't think that one payment will sort out the problem. The problem is much deeper than that," he said.
"The money certainly has to be shared, the income of the top clubs has to be shared a fraction more with the smaller clubs."
When asked if he supported the proposals, including the abolition of the EFL Cup and a reduction in the number of Premier League teams, Wenger added: "I think that you cannot ignore completely the tradition inside the country.
"Because the project comes from outside owners it will create a reluctance and a negative approach.
"Overall the solution has to come from the federation, from the government, from the Premier League - to find a compromise to sort out the problems that already existed before coronavirus."
'England among favourites for Euros'
The former Arsenal boss believes Gareth Southgate's England side are one of the favourites heading into next season's European Championships, following their 2-1 Nations League win over No 1-ranked Belgium on Sunday.
"I believe English football has moved forward on the international level," he said. "Since they developed the academy, they do not rely on schools, but their own structure of development, they have created good players.
"I would say at the moment in 2021 they are one of the favourites."